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LSP-Kendall To Refinance Debt

22 Sep 2005

A deal to refinance debt associated with LSP-Kendall Energy launched last week with Credit Suisse First Boston, Lehman Brothers and Goldman Sachs leading the loan.

A deal to refinance debt associated with LSP-Kendall Energy launched last week with Credit Suisse First Boston, Lehman Brothers and Goldman Sachs leading the loan. The $412 million term loan is being talked at LIBOR plus 2 3/4% with a call premium 102, 101. There is also a $10 million liquidity facility. The LSP-Kendall Energy Plant is located in Minooka, Ill. and consists of four 300 MW combined cycle units that includes a gas-fired combined cycle power generator. LS Power developed the asset and sold it to NRG Energy about five years ago, but reacquired it last December. A call to LS Power was not returned.

22 Sep 2005